The Bosch power tools company is planning a major expansion at its Lincoln County manufacturing site.
Bosch is investing $130 million in its Lincolnton power tools facility, with the expectation of adding 400 new jobs.
The Germany-based company plans to build a new 325,000-square-foot building that will house manufacturing, logistics, and warehouse operations. The site focuses on power tool accessories for products such as saws, drills, and routers.
The average annual salary for new workers will be roughly $53,000, exceeding Lincoln County’s average wage of just over $49,000. State officials say the payroll impact could add over $21 million annually to the community, located northwest of Charlotte.
The expansion is being facilitated in part by a North Carolina Job Development Investment Grant of more than $2.7 million spread over 12 years.
Governor Roy Cooper announced the expansion in a news release on Thursday.